Experience the Benefits of a Non-Profit Policyholder Owned Insurance Group that has Your Best Interests in Mind
GovTech is the only insurance company in the country that specializes in liability coverage for technology companies who primarily focus on federal and state government contracts.
Policyholder owned and reliably managed by the industry’s leading insurance professionals and underwriters, GovTech is uniquely prepared to provide its members with policy coverage specific to their needs, timely attention and service that goes beyond the client/carrier relationship, and savings that put money directly back into the policyholder’s pocket.
What does this mean for you? GovTech realizes that many technology companies who work for government agencies have excellent quality risk management and few, if any claims. However, you are often the ones who must tolerate high premium costs associated with liability coverage. That’s why GovTech was developed – to assemble a group of like-minded technology companies with similar philosophies and a single objective – low-risk equals low-premiums, and eventually high reward.
What Does GovTech Offer?
One Entity. Multiple Options.
Serving Federal and State Government IT contractors in Maryland, Colorado, Nevada, Virginia, Washington, and the District of Columbia, GovTech offers a wide portfolio of tailored liability insurance coverage for businesses engaged in the government technology sector. Coverage includes:
*GovTech has partnered with The Hartford to provide property, auto and workers comp at very competitive rates. GovTech has also partnered with The Capital Group, the DC/Baltimore region’s most trusted source for employee benefits/health insurance coverage to provide members with a single resource for all HR needs.
At GovTech, “profits” are retained and passed back to policyholders in the form of lower premiums. There are no Wall Street shareholders that need to be coddled. There are no disproportionate executive salaries that require increases in premiums and more aggressive sales. GovTech employees are focused, committed, experienced, and reliable – each with a common goal to provide low liability coverage to its members, while creating an atmosphere that directly benefits the risk management interests of federal and state government IT contractors.
Chartered under the Federal Risk Retention Act of 1986, a Risk Retention Group is a non-profit insurance company that is owned by its policyholders. This control results in lower rates, broader and more stable coverage, as well as each member’s ability to share in favorable loss experience.
Related to this Act, when it is determined that a technology company meets the criteria to be insured through GovTech, the policyholder becomes a member of GovTech through membership in the Government Technology Association. As an owner, you belong to a homogeneous group of other tech companies with similar experiences and philosophies. This is important as it allows a policyholder to actively participate in the direction of the company.
Criteria is important. Because GovTech only selects certain technology companies with a specific focus on government IT contracts, GovTech has the ability to offer coverage and savings other insurance carriers can’t.